JLL facilitated land transaction in Pune for Aditya Shagun and K Raheja Corp, paving the way for a 3 million square feet integrated IT Park development. The project, strategically located near the upcoming Baner Road metro station, aims to cater to grade A corporate occupiers.
JLL is a leading professional services firm that specializes in real estate and investment management.
Close to Baner and Aundh
The proposed development is in the north-western corridor of the city, strategically located close to the upcoming metro station at Baner Road. It is in close proximity to both Baner and Aundh, offering excellent access and road connectivity from three sides. This project is an endeavour to contribute to the Smart City initiative at Baner and Balewadi.
Rinku Shewani, Partner, Aditya Shagun Developers, Pune said, “This will be a large integrated IT Park, which each one of us is developing, for marquee corporate occupiers with a focus on creating experiential spaces, this project will offer, world class office spaces and energy efficient operations with a special focus on sustainability, low density, integrated retail, well planned amenities.”
"This collaboration is a validation of the trust, affiliation, and relationship that we share with K Raheja Corp. They have been instrumental in developing large IT parks across India and have earned a reputation to curate high quality real estate. We are confident this offering too will be a notable landmark for MNCs and Indian Corporates,” added Rinku Shewani.
Close to Balewadi
Balewadi has seen rapid growth in terms of social infrastructure over the years. It offers easy access to ample residential, office and retail developments along with hotels, hospitals, schools, and more, making it an attractive destination.
Sanjay Bajaj, Managing Director, Pune, JLL said, “Pune witnesses approximately 6 million square feet of gross absorption on an annual basis, and the annual demand in this micro market is approximately 1.5 million square feet. With increasing demand, there is a lack of availability of large campuses in the micro market and corporate occupiers have been eagerly awaiting quality real estate supply.”
“The proposed landmark development by Aditya Shagun and K Raheja Corp shall be a fine blend of an IT park with a special focus on sustainability, low density, integrated retail, well planned amenities, for its corporate occupiers. Once ready, this IT Park will be perfectly located and right sized to attract Grade A tenants,” added Bajaj.
Over the past few years, Pune has been witnessing significant growth in the office sector. This has been due to several factors, including the large consolidations of global and Indian corporate occupiers, moving into grade A campuses, offering higher levels of efficiency and a greater focus on sustainability, and employee experience. The weather, excellent talent pool, social infrastructure and prime developments by renowned developers has made Pune the city of choice for many organisations to move from larger cities.
